Indonesia’s Trade Balance Surplus Increases - Bank Sentral Republik Indonesia
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April 22, 2018

No. 19/96/DKom 

Indonesia’s trade balance in November 2017 records another surplus, supported by the surplus in non-oil and gas trade balance. The trade balance surplus in November 2017 is recorded 0.13 billion US dollar, lower than that in October 2017 of 1.00 billion US dollar. Such lower surplus is attributable to the decreasing non-oil and gas trade balance surplus and the increasing oil and gas trade balance deficit. However, cumulatively from January-November 2017, the trade balance surplus is recorded 12.02 billion US dollar, much higher than the surplus in the same period in the previous year, which recorded 8.48 billion US dollar.

Non-oil and gas trade balance in November 2017 records surplus of 1.09 billion US dollar. The surplus is supported by non-oil and gas export of 14.01 billion US dollar or increasing by 0.25 billion US dollar from the previous month. The increasing non-oil and gas export is primarily attributable to the increasing exports of animal/vegetable fat and oil, jewelleries/precious stones, footwear, knitted goods, and iron and steel. On the other hand, non-oil and gas import records a higher increase by 0.89 billion US dollar (mtm) to 12.92 billion US dollar in the same period. The increasing non-oil and gas import is primarily attributable to the increasing imports of machinery and mechanic device, machinery and electrical device, vehicles and their spare parts, optical device, and aircrafts and their spare parts. The higher increase in non-oil and gas import than the non-oil and gas export makes the non-oil and gas trade balance surplus in November 2017 recorded lower than the previous month, namely 1.09 billion US dollar. With such progress, the cumulative non-oil and gas trade balance surplus from January-November 2017 reaches 19.58 billion US dollar, much higher than the surplus of 13.67 billion US dollar in the same period in the previous year.

Oil and gas trade balance records deficit of 0.96 billion US dollar in November 2017. The deficit is higher than that in October 2017 of 0.73 billion US dollar. The increasing oil and gas trade balance deficit is boosted by the increase oil and gas import by 0.03 billion US dollar (mtm) accompanied with the decreasing oil and gas export by 0.21 billion US dollar (mtm). Cumulatively, oil and gas trade balance deficit from January-November 2017 is recorded 7.56 billion US dollar, higher than the deficit of 5.18 billion US dollar in the same period in 2016.

Bank Indonesia considers that trade balance performance in November 2017 is positive in supporting the current transaction performance. Going forward, trade balance performance is estimated to improve in line with the continued global economic recovery and high prices of global commodities. Such development will support the improvement of economic growth prospect and current transaction performance.

Jakarta, 15th December 2017
Communication Department

Agusman
Executive Director

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